DGAP-News: M.A.X. Automation AG / Key word(s): 9-month figures
M.A.X. Automation Group posts strong performance in third quarter of
2015
13.11.2015 / 07:16
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PRESS RELEASE
November 13, 2015
M.A.X. Automation Group posts strong performance in third quarter of 2015
- Key figures for the first nine months of the year improved quite
significantly in some cases
- Group sales increase by 5.3% to EUR 266.3 million
- EBIT before PPA amortization increases by 55.0% to EUR 15.1 million,
EUR 7.5 million of which were posted in the third quarter
- EBIT margin increases to 5.5% after nine months and to 7.7% in the
third quarter
- Outlook for the full year 2015 confirmed
Düsseldorf, November 13, 2015 - M.A.X. Automation Group has posted a strong
third quarter of 2015 and thus reinforced its successful development in the
first half of the year. The company that specializes in high-tech
mechanical engineering managed to improve all of its key figures, in some
cases quite significantly, in the first nine months of the year and is thus
fully in line with its expectations. The positive effects of focusing on
the Group portfolio and leveraging synergy effects between Group companies
are increasingly contributing to its results. In light of this development,
the Management Board has confirmed its forecast for the full year 2015.
Key Group figures
- Consolidated new orders for the Group rose by 5.1% in the first nine
months of the year to EUR 266.4 million (same period last year: EUR
253.4 million). Of this amount, orders valued at EUR 90.4 million were
received in the third quarter.
- At EUR 158.4 million, the order book position on September 30, 2015,
was above the value on the same day of the previous year (EUR 157.4
million).
- Group sales increased from January to September by 5.3% from EUR 252.9
million to EUR 266.3 million. Third quarter sales increased by 7.1% to
EUR 95.8 million (same quarter of last year: EUR 89.5 million).
- Consolidated earnings (EBIT) before PPA amortization (purchase price
allocations) rose by more than half from EUR 9.7 million to EUR 15.1
million (+55.0%) after nine months. EBIT before PPA for the third
quarter increased to EUR 7.5 million after EUR 6.2 million in the same
quarter of last year (+21.7%).
- The EBIT margin based on total performance improved by 1.7 percentage
points to 5.5% in the first nine months of the year. An EBIT margin of
7.7% was achieved in the third quarter, which thus comes close to the
medium and long-term target value of at least 8%.
- EBIT after PPA amounted to EUR 11.4 million in the first nine months of
2015 (same period of the previous year: EUR 6.8 million; +67.1%). The
third quarter accounted for EUR 6.1 million of this amount (Q3 2014:
EUR 5.2 million; +17.3%).
- Net profit for the period more than doubled to EUR 5.9 million in the
first nine months of the year (same period of the previous year: EUR
2.7 million). Earnings per share thus doubled from EUR 0.10 to EUR 0.22
in the first nine months of 2015.
- Equity as of September 30, 2015, rose to EUR 101.8 million and
surpassed the EUR 100 million mark for the first time in the company's
history (December 31, 2014: EUR 99.8 million). The equity ratio
increased from 33.8% to 35.1% compared to the same date last year and
was significantly above the minimum target of 30.0%.
- Gross debt on September 30, 2015, was EUR 26.7 million lower at EUR
73.6 million (December 31, 2014: EUR 100.3 million), partly due to the
new Group financing that was arranged at the end of June.
- Net debt was reduced further in line with the strategy. It amounted to
EUR 59.3 million on September 30, 2015, and was EUR 5.4 million lower
than the figure on the same date last year (EUR 64.7 million).
Development of the segments
The Industrial Automation segment continued its solid performance from the
first half of 2015 in the third quarter. Sales of EUR 172.8 million for the
first nine months were a slight 1.3% lower than in the same period last
year (EUR 175.0 million) due to the start-up of new projects and the
associated temporarily lower capacity utilization in the first half of the
year. EBIT before PPA amortization improved significantly by 23.2% to EUR
14.3 million (same period of the previous year: EUR 11.6 million). The
segment increased its EBIT margin by 6.6% to 8.0% of total output.
The Environmental Technology segment also continued its positive business
performance from the first half of the year in the third quarter, albeit at
a somewhat slower pace. Sales increased by 20.0% from January to September
to EUR 93.8 million (previous year: EUR 78.2 million). EBIT before PPA
increased from 0 to EUR 3.0 million. The strategic realignment of the Group
company Vecoplan AG contributed quite significantly to this positive
development. As previously announced, a sales process has been initiated
for the company altmayerBTD in the course of concentrating on our core
business.
Outlook for financial year 2015
The Management Board confirms its forecast for the full year 2015 due to
the high order backlog and the Group companies' plans for the coming
months. The Board continues to expect consolidated revenue in the range of
EUR 360 million to EUR 380 million and consolidated earnings before
interest and taxes before PPA amortization of between EUR 20 million and
EUR 22 million.
Fabian Spilker, CEO of M.A.X. Automation AG: "The figures for the first
nine months clearly show that M.A.X. Automation is moving in the right
direction both strategically and economically. The positive effects of the
transformation of our Group into a high-tech engineering group and from
leveraging the synergy effects between our Group companies are becoming
more and more evident. M.A.X. Automation is positioned stronger than ever
thanks to its new structure. This means we now have a good basis for
achieving our ambitious mid-term growth objectives."
The full length report on the first nine months of 2015 is available for
downloading on the website of M.A.X. Automation AG under
http://www.maxautomation.de in the "Investor Relations" section.
Press contact:
Frank Elsner / Frank Paschen
Frank Elsner Kommunikation für Unternehmen GmbH
Phone.: +49 - 5404 - 91 92 0
Fax: +49 - 5404 - 91 92 29
About M.A.X. Automation AG
M.A.X. Automation AG (Securities Identification Number: 658090) with its
headquarters in Düsseldorf is an internationally active high-tech
mechanical engineering Group and a leading full-service supplier of
integrated and sophisticated system and component solutions. Its
operational business is divided into two segments. In the Industrial
Automation segment, the Group is considered to be a trendsetter in the
development and manufacturing of integrated and proprietary solutions for
use in manufacturing and assembly in the automotive industry, medical
technology, packaging machines and the electronics industry due to its
comprehensive technological know-how. In the Environmental Technology
segment, M.A.X. Automation develops and installs innovative systems for use
by the recycling, energy and raw materials industries.
M.A.X. AUTOMATION AG
CONSOLIDATED RESULTS AT A GLANCE (IFRS)
<pre>
in EUR mill. Jan.-Sept. 2015 Jan.-Sept. 2014 Change
New order intake 266.4 253.4 +5.1%
Order book position* 158.4 157.4 +0.6%
Revenue 266.3 252.9 +5.3%
EBITDA 19.9 14.1 +41.9%
EBIT before PPA 15.1 9.7 +55.0%
EBIT after PPA 11.4 6.8 +67.1%
Earnings for the period 5.9 2.7 +118.0%
EBIT per share before PPA (in EUR) 0.56 0.36 +55.0%
Earnings per share (in EUR) 0.22 0.10 +118.0%
</pre>
*Date September 30, 2015, compared to September 30, 2014
<pre>
in EUR mill. 30.09.2015 31.12.2014 Change
Equity 101.8 99.8 +2.0%
Equity ratio (in %) 35.1 33.8 +1.3 pp
Financial debt 73.6 100.3 -26.6%
Cash and cash equivalents 14.4 52.4 -72.6%
Net debt 59.3 47.9 +23.6%
Employees (headcount)* 1.808 1.791 +0.9%
- of which trainees 152 160 -5.0%
</pre>
*Date September 30, 2015, compared to September 30, 2014
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Language: English
Company: M.A.X. Automation AG
Breite StraÃe 29-31
40213 Düsseldorf
Germany
Phone: +49 (0)211 90991-0
Fax: +49 (0)211 90991-11
E-mail: Investor.Relation@maxautomation.de
Internet: www.maxautomation.de
ISIN: DE0006580905
WKN: 658090
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News Service
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412759 13.11.2015
DGAP-News: M.A.X. Automation Group posts strong performance in third quarter of 2015
| Quelle: EQS Group AG